David Jones dragging Woolies down
Unsentimental new CEO vows no SA cash for Aussie chain
20 September 2020 - 00:16
Fund managers and analysts are watching keenly to see if new Woolworths CEO Roy Bagattini can finally turn around Australian department store chain David Jones, which has been a drain on the group since it was bought in 2014.
The task is daunting as the JSE-listed food and clothing retailer has already impaired R13bn of the R21.4bn it paid for David Jones.
BL Premium
This article is reserved for our subscribers.
A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.
Already subscribed? Simply sign in below.
Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now